Unsuccessful privatization of BIP slows down investors

Representatives of Lithuania at the European Parliament have recently spoken about the problems of Lithuanian investors in Serbia and in that way confirmed that the dispute about the unsuccessful privatization of the Belgrade Beer Industry (BIP) is still an issue.

In February 2010, the Privatization Agency terminated the contract on the sale of BIP with the Lithuanian-Swedish consortium comprising Alita and United Nordic Beverages. People at the Agency told Politika daily paper that the investors had not invested EUR 2.6 million in the company and purchased the company's shares, which they had been bound to do by the contract. Serbia sued them and the case is now before an international arbitration court. BIP is currently in the restructuring process and under the control of the Privatization Agency, which have been transferred 51.9% of the company's shares.